Enclosed herewith Monitoring Agency report for the quarter ended June 30, 2025.
KIRIINDUS · price
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Awaiting price reaction for this filing.
Kiri Industries has filed the CRISIL Monitoring Agency Report for Q1 FY26 covering its Rs 492.02 crore preferential issue of convertible warrants. Out of this, the company has received Rs 319.36 crore so far (upon allotment and partial conversion of warrants) and utilized Rs 319.28 crore as per the stated objects, leaving just Rs 0.08 crore parked in a fixed deposit with HDFC. No fresh proceeds were received from warrant holders during the quarter, and no new utilization happened either. The balance Rs 172.66 crore is still expected from warrant holders upon conversion, within 18 months of the October 15, 2024 allotment date. Utilization so far covers debt repayment (Rs 122.35 cr of Rs 125 cr), working capital (Rs 147.77 cr of Rs 150.02 cr), legal/professional fees (Rs 27.95 cr of Rs 50 cr), and general corporate purposes (Rs 21.21 cr of Rs 50 cr). The Monitoring Agency noted no deviation from stated objects.
Routine compliance filing with no red flags on fund usage, but investors should note that nearly Rs 173 crore (~35% of the issue size) is still pending receipt from warrant conversions, and the full Rs 117 crore allocated for financial assistance to group/subsidiary companies remains completely unutilized, which may warrant tracking in coming quarters.